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Recap of Money 20/20 USA 2023 and 10 Banking Thoughts

South State Correspondent

Sunday Programming: consisted of a federal lobbying track, AI Summit, Small Business, Fraud, running a fintech, cannabis banking, and modernizing the banking core system. The topics were perfect, and there were some great case studies, but the substance was standard, bordering on underwhelming.

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DenizBank, Turkey … the visible bank

Chris Skinner

One of the presentations I particularly enjoyed at the EFMA meeting was from Gürhan Çam, Senior Vice President- Digital Banking at DenizBank, Turkey. You will all know by now that I love the innovations in retail banking in Turkey, and Gürhan didn’t disappoint. First, there is the fastPay Wallet.

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BMO’s Digital-First Transformation Unlocks Operational Efficiencies

PYMNTS

Another improvement is what BMO calls “easy PIN authentication,” in which customers use their debit cards — rather than driver’s licenses or state-issued IDs — to verify their identities. One more major component of BMO’s digital transformation was enabled earlier, however: an instant-issue debit card. “If

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Trust Bank Onboards 450K Customers in 5 Months using FICO Platform

FICO

Trust Bank is setting a precedent for financial services by onboarding an individual and delivering a credit card to them digitally on their phone within four minutes, creating a seamless digital onboarding process for new customers. FICO Platform helps us to deliver that edge.”

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Making a hash of it

Chris Skinner

Hashing data is taking the source information which may be your account details or card information and shortening it into a machine-readable link that doesn’t share the original data. I’m having lots of discussions about tokenisation and cryptocurrencies, and it often boils down to hashing the data.

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Five financial innovations you may have missed

Chris Skinner

Penny, the New Mint Penny is an app that examines behaviour around your bank accounts and credit cards to alert you of any issues, such as data breaches. You can link your credit cards, bank accounts (more than 10,000 institutions are supported), or even Venmo or PayPal into this app, which is available on iOS and Android.

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Conference Alert: New Fintech Event to Focus on AI (duh!)

Fintech Labs Insights

Here’s why it thinks you should attend (full disclosure, #10 is mine): Stay Updated : Learn the latest AI trends reshaping the financial services industry Network : Connect with industry peers, thought leaders, and potential partners.